The terms of the acquisition were not disclosed.
Totem Electric was founded in 1960 and provides design, build, and maintenance services to industrial, commercial, and government agency customers across Washington state.
According to the company, it is well known for its millions of dollars of traffic control work on Washington’s highway systems. Totem Electric has also done work on Lincoln High School, a cargo handling facility at Joint Base Lewis-McChord, the Sound Transit maintenance facility in Seattle, and more.
“Not only do we feel that Totem is a good investment, we also feel Tacoma’s South Sound, where Totem Electric is headquartered, is a good place to be,” said Eberhart Capital’s Managing Director Dan K. Eberhart. “Tacoma’s economy is growing, and investors are paying attention. For firms like mine, the strength of the overall economy, the thriving port, growing tech industry, strong education system, and growing labor force were all key investment factors that made Totem Electric and Tacoma an attractive opportunity for my firm.”
According to Eberhart Capital, the firm has already invested almost $1 million in new equipment at Totem Electric.